Bloom Energy (NYSE:BE) Shares Up 7.1%

Bloom Energy Co. (NYSE:BE) shares traded up 7.1% during mid-day trading on Thursday . The company traded as high as $12.18 and last traded at $12.15. 1,666,541 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 6,027,197 shares. The stock had previously closed at $11.34.

Analyst Ratings Changes

BE has been the subject of several research reports. Jefferies Financial Group reduced their price objective on Bloom Energy from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 9th. UBS Group reduced their price target on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Royal Bank of Canada restated an “outperform” rating and set a $15.00 price objective on shares of Bloom Energy in a report on Thursday, June 20th. Wells Fargo & Company increased their target price on shares of Bloom Energy from $12.00 to $14.00 and gave the company an “equal weight” rating in a research note on Monday, May 20th. Finally, Piper Sandler boosted their price target on Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Bloom Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.08.

Bloom Energy Trading Up 0.1 %

The company has a market cap of $2.70 billion, a price-to-earnings ratio of -8.82 and a beta of 2.80. The company has a quick ratio of 2.97, a current ratio of 4.45 and a debt-to-equity ratio of 2.56. The company’s fifty day moving average price is $12.54 and its two-hundred day moving average price is $12.02.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $335.80 million during the quarter, compared to the consensus estimate of $307.73 million. Bloom Energy had a negative return on equity of 19.32% and a negative net margin of 22.27%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.32) EPS. Research analysts expect that Bloom Energy Co. will post -0.26 earnings per share for the current year.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,094 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total value of $30,425.82. Following the completion of the transaction, the insider now directly owns 168,867 shares of the company’s stock, valued at $2,453,637.51. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 8.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. acquired a new position in Bloom Energy during the 2nd quarter valued at about $215,000. Creative Planning raised its stake in shares of Bloom Energy by 31.5% during the second quarter. Creative Planning now owns 34,394 shares of the company’s stock worth $421,000 after buying an additional 8,244 shares during the last quarter. Algert Global LLC acquired a new position in Bloom Energy in the second quarter valued at approximately $251,000. Sender Co & Partners Inc. bought a new position in Bloom Energy in the second quarter valued at approximately $156,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Bloom Energy by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 114,705 shares of the company’s stock valued at $1,404,000 after acquiring an additional 7,205 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Company Profile

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.